Proshare Nigeria Limited
The Upper Room
Plot 590b Pat Ojeboboh Close
Off Toyin Omotosho Street
Omole Phase II, Isheri
P. O. Box 18782, Ikeja
Lagos, Nigeria
E: info@proshareng.com
Tel: 0803 628 8637, 762 4131

Proshare Invest- Africa UK
17b Neeld Crescent
Hendon, London NW4 3RP

Proshare Canada
14 Stookes Crescent
Richmond Hill
Ontario, Canada L4E 0J4

Proshare America Inc
8632 South Sepulveda boulevard
Suite 105
Los Angeles, CA 90045

Thank you abujabooks.

@bolaoni

Thanks for letting the cat out of the bag (laugh)! It is a pleasure to read the comments here.

I appreciate the post from easimoni and all other post and pending when we finish our review of the offer there is a little note I will like to share with all.

The Technical Analyst for Proshare sent this response to the posts to me and I felt I should share with you, unedited,

I am getting the perception that a lot of Proshare readers and some investors do not really understand the impact of the reverse split on their Access Bank shares. Majority of the investor are unhappy of the reverse split and the run up in price prior to the announcement of the secondary offering. If you remember the share prices of UBA, Oceanic Bank , and Intercontinental Bank also surged before their offerings too.

The surge in the prices of these shares might have been intentional mop by the institutions, or smart investors buying the shares ahead of the offering to enable them sell into post secondary offering up swing. I believe that Proshare investors that read our recommendation to buy the N8.31 on February 7, 2007 should part of the latter group.

The problem I see is that we (i.e. Proshare and contributors to www.proshareng.com) must be careful and report the figures as we see them without being emotional or perceived by investors as being partial. A lot of investors are angry about the reverse split, but what they fail to understand is that the value of the shares they have post reverse split is greater than the value pre-reverse split.

To illustrate, an investor with 9,000 shares pre-split at N3 paid N27,000 (9000 x 3 = N27,000) for the shares. After the 2 for 1 reverse split, the investor received 4,500 share at N6 still valued N27,000 (4,500 shares x N6 = 27,000).

If the investor did not sell the 4,500 shares they received from the split, the shares are now worth N86,940 (4,500 shares x N19.32) a gain of N59,940 or 222% compared to the investor initial investment of N27,000. Even at the discounted offering price of N14.90, the investor is still making N40,050 or 148% profit post the reverse split.

Yes, a lot of investors are aggrieved that the company has not paid dividends in 3 years, but isn't this price appreciation better than the dividends?.

Like I usually say, the key lies in the numbers, we will crunch the prospectus and 2007 Accounts which I am informed has been approved by the regulatory body and visit the site again.

Till then, digest this and lets continue the healthy discourse.

Dear easimoni and Allcorrect,

The discussion was pasted on the proshare webiste to encourage others to join in the discussion on www.nairaland.com.

The thread of discussion was quite insightful and we felt if we got more 'investors' to join the forum, the users of this site might benefit from their viewpoint rather than acting as an umpire.

the purpose, if you look at it, should benefit the nairaland forum, where i have seen very strong views on stock related issues. It is not in our place to use the comments made on another site to promote our site. In this case, we sought to improve the information access to gain a broad based view of the issues as part of our public view survey on an impending offer for which we would also post a copy of the final report on the forum.

I do hope your concerns have been allayed. thanks for the comments on the site.

To easimoni and egoldman:

You are both right. I am with proshare and manage the www.proshareng.com/blog.

I find your comments on this site quite insightful and would be happy to engage you in exploring the different viewpoints on issues.

Exclusive Breaking News:

The Dangote Group will in the next few weeks/months enter the market to raise funds through an initial offering for its FLOUR, CEMENT and REFINERY businesses.

Mr. Uzo Nwankwo, Group Executive Director, Corporate Finance of the group disclosed this information to Proshare at an exclusive interview held at the London Stock Exchange building where he had received the landmark award from African Investor (Ai) for the best IPO in Africa.

Dangote Sugar Plc. Edged six (6) other firms including Standard Bank, Uganda to win this award which was witnessed by lead investors from the ‘city’ and African stock exchanges.

While the company is continuing its expansion plans for the sugar business which will receive a further boost from the new EU rules which has removed subsidies hitherto enjoyed by European farmers and which had made it a challenge for firms like Dangote to be competitive; it looks now to a wider market which can only mean a better prospect for the fortunes of investors in Dangote Sugar Plc.

INITIAL PUBLIC OFFERS

Given its commitment to ensure that Nigerians participate in the growing opportunities in the economy which the company is well positioned to serve, and the excellent vote of confidence in the company by institutional investors which Awill manifest in its ability to set up shop (for specific businesses) in
* Algeria – Sugar Refinery;
* Senegal – 200 metric tonne cement factory;
* South Africa
* Port of Maputo: and
* Increasing capacity of the Nigerian operations.


Specifically therefore, the group has earmarked the following estimated timelines for the following subsidiaries to go public:
Flour Company: Next 4 – 6 weeks
Cement Company: September/October 2007

The Port Harcourt and Kaduna Refineries would also become public companies and have their shares offered to Nigerians and the investing public through an initial public offering in 2008.

MORE ON DANGOTE GROUP.

New Dangote IPO out soon!

The Dangote Group will in the next few weeks/months enter the market to raise funds through an initial offering for its FLOUR, CEMENT and REFINERY businesses.

Mr. Uzo Nwankwo, Group Executive Director, Corporate Finance of the group disclosed this information to Proshare at an exclusive interview held at the London Stock Exchange building where he had received the landmark award from African Investor (Ai) for the best IPO in Africa.

Dangote Sugar Plc. Edged six (6) other firms including Standard Bank, Uganda to win this award which was witnessed by lead investors from the ‘city’ and African stock exchanges.

While the company is continuing its expansion plans for the sugar business which will receive a further boost from the new EU rules which has removed subsidies hitherto enjoyed by European farmers and which had made it a challenge for firms like Dangote to be competitive; it looks now to a wider market which can only mean a better prospect for the fortunes of investors in Dangote Sugar Plc.

INITIAL PUBLIC OFFERS

Given its commitment to ensure that Nigerians participate in the growing opportunities in the economy which the company is well positioned to serve, and the excellent vote of confidence in the company by institutional investors which Awill manifest in its ability to set up shop (for specific businesses) in
* Algeria – Sugar Refinery;
* Senegal – 200 metric tonne cement factory;
* South Africa
* Port of Maputo: and
* Increasing capacity of the Nigerian operations.


Specifically therefore, the group has earmarked the following estimated timelines for the following subsidiaries to go public:
Flour Company: Next 4 – 6 weeks
Cement Company: September/October 2007

The Port Harcourt and Kaduna Refineries would also become public companies and have their shares offered to Nigerians and the investing public through an initial public offering in 2008.

Check out the investment opportunities in the market here http://www.proshareng.com/myproshare/portal_articles.php?id=1108

Check out the investment opportunities in the market here http://www.proshareng.com/myproshare/portal_articles.php?id=1108

Access Bank Plc plans to raise about N70.343bn from the capital market through public offering of 4.721billion ordinary shares of 50 kobo at N14.90 per share.

The bank had after the endorsement of the shareholders for the offer at an extra-ordinary general meeting in May applied and received the approval of the Nigerian Stock Exchange for the offer. But the offer price has been kept a secret.

However, competent market sources told the Punch yesterday that Access Bank Plc. would offer the shares at N14.90, which translates to a discount of N4.42. The bank’s stock is currently under technical suspension at a price of N19.32.

So what does this mean?

Is the 'discount' a deciding factor or is there more to ask before an investment is made concerning the stocks?

There are a few stocks also out there competing for your money - What analysis are you relying on to make that call?

While you are pondering on this - check out the investment opportunities in the market http://www.proshareng.com/myproshare/portal_articles.php?id=1108

We will like to know what you think of the Access Bank Plc Public Offer and your decision criteria.


Thank you.

'Debola Alile

To be a millionaire, you have to go about it the tested and tried manner, intelligent investing.

Want to know more, stay glued to market intelligence and be disciplined in your application of information that comes to you, Not get rich quick schemes.

Thanks

'debola Alile
www.proshareng.com